Crypto Frontline

BTCUSD (Coinbase)

The week started with Bitcoin under pressure as the sell-off continues following worse-than-expected tariffs. April 9th is when the bulk of reciprocal tariffs will go into effect, so if there’s no change by then, we should expect further downside in crypto overall, not just BTC.

Technically, the market made new lows and that’s a bearish sign. At the time of writing, there is some easing of selling, but the broader picture continues to favor sellers. As we’ve mentioned in the past, the $74k is a key area to watch. That’s a former ATH and a place where opportunistic investors might look to increase exposure once again. 

We saw heavy selling across major stock markets last week and if that continues, BTC should continue to be pressured during the upcoming days. Below $74k, we see $67k as the next significant support. Be aware that due to elevated volatility, the price can easily pierce through these levels before finding support. 

On the upside, $78k and $80k could act as resistance. We remain bearish until BTC stages a rally above the 4h chart 200 SMA, currently located around $84k. 

ETHUSD (Kraken)

Selling has been heavier with ETH, showing once again that when sentiment deteriorates, altcoins suffer more. The price seems to have calmed down around $1,500, but it’s still too little to suggest a major turn is about to happen.

However, given extremely oversold conditions, a dead-cat bounce is likely, especially if tariff-related tensions will ease this week. That didn’t happen yet, but if it does, we expect a rally into $1,750, a key resistance area. 

Expect more selling there, which is why in the absence of a major improvement in sentiment, ETH could start to roll over after the push higher. Further selling below $1,500 will mean $1,375 will follow next. Traders should remain cautious as news will drive momentum and order flow this week. 

XRPUSD (Kraken)

XRP broke below the bottom of the range at $2 and as we mentioned a couple of weeks ago, that should be treated as a bearish signal. The market seems to be recovering a bit after piercing through the daily 200 SMA, but more downside might follow, as long as the price stays below the broken range. 

There has been high enthusiasm around this coins, since it is owned by a US company. However, sentiment has shifted and now the markets are worried about the potential for a recession later this year, which is bearish for high-risk assets such as crypto. 

If news around friendly crypto regulation in the US materializes, then we’ll be in favor of a new leg up in XRP. As things stand right now, traders shouldn’t try to front-run that event, considering the market might continue to price in negative news. 

Our downside target, if selling persists, is $1.4. On the upside, we need a break above $2 and hold in order to consider a large move favoring buyers.